After the Hayne Royal Commission many advisers decided to steer away from large dealer groups in favour of becoming self-licensed. In the last six months, however, that trend has taken an abrupt turn.
While known for being the flagbearer for financial product providers, the Financial Services Council is now making serious inroads into the financial advice sector.
On the move in wealth management
Optimism and confidence in the Australian job market is growing and expanding throughout the country, with the latest data from the Regional Australia Institute showing that there were 84,600 regional job vacancies in April 2022, up 24.8% compared to a year earlier.
The unemployment rate remained steady at a historical record low, at 3.9%. Adding to the positive news this week was a slight improvement in US inflation figures: the inflation figure for April showed that prices had increased by 8.3% compared to April 2021, down from the 8.5% increase posted in March 2022. The message here is that price rises are slowing in the US, despite inflation being close to a 40-year high. The core-price index, which excludes the volatile categories of food and energy, was up 0.6% on the month, up from March’s 0.3% gain.
In this week’s column, there have been a few key movements, appointments, obituaries and resignations that occurred across the financial services, wealth management and advisory sectors.
intelliflo – Global leader in financial advice technology has hired Stuart Alsop as the company’s first head of sales in Australia. Responsible for business development and building a local sales team, he comes with a wealth of knowledge and experience. Originally from FE fundinfo, he was head of business development, leading the sales and marketing team in Australia and New Zealand. Alsop’s knowledge in the Australian financial advice sector will be essential in helping develop new capabilities to advisers.
Future Generation Australia – Former premier of NSW, Mike Baird, will join the Future Generation Australia’s board of directors, as the board’s new chair on 31 July 2022. He is currently the CEO of HammondCare, a board member of Cricket Australia and Surfing Australia and was a member of the National Australia Bank executive leadership team.
Cbus Super – One of Australia’s largest super funds has announced the appointment of Anthony Thow as group executive brand, growth and product. In his previous role he was deputy CEO and COO at LUCRF Super and was the trustee director for the fund from 2005 to 2010. He has also held positions on the Australian Council of Super Investors (ACSI) as board and member council roles and vice president.
Partners Wealth Group – Has announced the appointment of Andrew Lally as head of its wholesale investment arm, Partners Private. He will oversee strategy and growth for Partners Private which launched in December last year and joins with 25 years’ experience in financial services.
Superhero – Former ASIC chair James Shipton was appointed to the Superhero board as a non-executive director. He comes on board with extensive experience in financial services making him the ideal candidate as the fintech continue to innovate and grow.
Betadia – Has announced the appointment Vanessa Low as its official brand ambassador for 2022. The company is looking to establish a global presence and brand image which can be easily recognised by investors worldwide and has hired Low. She was the world-renowned Australian Paralympic champion.
Aviva Investors – The firm’s global asset management business has hired Sam Tripuraneni as head of sustainable outcomes, to help lead the firm support a sustainable transition. He will also be responsible for overseeing ESG thematic research. Based in London, Sam brings seven years’ experience at BlackRock as director of its sustainable investing team. Prior to that, he was a relationship manager in the UK defined contribution sales team.
Fidante Partners – The global investment management business that is responsible for distributing roughly US$80 billion ($109 billion) in assets, has appointed Eu-Jene Teng for the position of senior business development manager.
